Vice President Dr. Philip Mpango has called on American investors to seize opportunities in Tanzania, highlighting the country’s stability, improved business environment, and strategic role in green energy, digital innovation, and regional trade.
Speaking at the Tanzania–United States Business and Investment Forum on the sidelines of the 80th United Nations General Assembly (UNGA 80), Dr. Mpango described Tanzania as a safe and reliable destination for investment. He urged Tanzanian entrepreneurs to also explore global markets.
“Tanzania is ready to work closely with US businesses to drive sustainable growth and create jobs,” he said.
Recent reforms have simplified business operations, cutting business registration from 14 days to 24 hours, and investment approvals that previously took months are now completed within hours or days through the Tanzania Investment Centre and Special Economic Zones Authority (TISEZA).
Dr. Mpango outlined Tanzania’s strategic sectors for investment. In mining, the country offers essential minerals for the green economy, including graphite in Mahenge, nickel in Kabanga, and lithium reserves critical for battery production. Investors are encouraged to engage in value addition, from extraction to processing and manufacturing.
The digital sector is expanding rapidly. Internet access has grown from 13% to 60% in five years, while mobile money transactions total $75 billion nearly 90% of GDP. Tanzanian fintech companies like NALA now serve more than half a million users worldwide.
Agriculture also offers vast potential, with 44 million hectares of arable land suitable for precision farming, drone technology, AI-driven solutions, and agro-processing. In healthcare, Dr. Mpango invited US firms to produce medicines and medical equipment for East Africa’s 300 million people and the wider African Continental Free Trade Area of 1.4 billion people.
Infrastructure and tourism provide further opportunities. The 2,561-kilometre Standard Gauge Railway (SGR) will connect Uganda, Burundi, the Democratic Republic of Congo, and Rwanda, enabling large-scale cargo transport.
Tanzania welcomes over two million tourists annually, generating $3.37 billion in revenue.
Dr. Mpango said Tanzania aims to attract $185 billion in investment over the next five years to achieve Vision 2050 goals, including industrialisation, integrated infrastructure, and strong trade networks. Bilateral trade with the US has grown from $228 million in 2020 to $770 million in 2024, while US investment in Tanzania totals $1 billion.
Forum participants praised Tanzania’s stable policies, improved investment climate, and strategic opportunities. Many said the country’s Vision 2050 goal of a $1 trillion economy is achievable, given its abundant resources, digital growth, and regional influence.By [Your Name]
Vice President Dr. Philip Mpango has called on American investors to seize opportunities in Tanzania, highlighting the country’s stability, improved business environment, and strategic role in green energy, digital innovation, and regional trade.
Speaking at the Tanzania–United States Business and Investment Forum on the sidelines of the 80th United Nations General Assembly (UNGA 80), Dr. Mpango described Tanzania as a safe and reliable destination for investment. He urged Tanzanian entrepreneurs to also explore global markets.
“Tanzania is ready to work closely with US businesses to drive sustainable growth and create jobs,” he said.
Recent reforms have simplified business operations, cutting business registration from 14 days to 24 hours, and investment approvals that previously took months are now completed within hours or days through the Tanzania Investment Centre and Special Economic Zones Authority (TISEZA).
Dr. Mpango outlined Tanzania’s strategic sectors for investment. In mining, the country offers essential minerals for the green economy, including graphite in Mahenge, nickel in Kabanga, and lithium reserves—critical for battery production. Investors are encouraged to engage in value addition, from extraction to processing and manufacturing.
The digital sector is expanding rapidly. Internet access has grown from 13% to 60% in five years, while mobile money transactions total $75 billion—nearly 90% of GDP. Tanzanian fintech companies like NALA now serve more than half a million users worldwide.
Agriculture also offers vast potential, with 44 million hectares of arable land suitable for precision farming, drone technology, AI-driven solutions, and agro-processing.
In healthcare, Dr. Mpango invited US firms to produce medicines and medical equipment for East Africa’s 300 million people and the wider African Continental Free Trade Area of 1.4 billion people.
Infrastructure and tourism provide further opportunities. The 2,561-kilometre Standard Gauge Railway (SGR) will connect Uganda, Burundi, the Democratic Republic of Congo, and Rwanda, enabling large-scale cargo transport. Tanzania welcomes over two million tourists annually, generating $3.37 billion in revenue.
Dr. Mpango said Tanzania aims to attract $185 billion in investment over the next five years to achieve Vision 2050 goals, including industrialisation, integrated infrastructure, and strong trade networks.
Bilateral trade with the US has grown from $228 million in 2020 to $770 million in 2024, while US investment in Tanzania totals $1 billion.
Forum participants praised Tanzania’s stable policies, improved investment climate, and strategic opportunities. Many said the country’s Vision 2050 goal of a $1 trillion economy is achievable, given its abundant resources, digital growth, and regional influence.